Saving for retirement gets a boost from the SECURE Act

Description

Abstract: The 2019 SECURE — short for Setting Every Community Up for Retirement Enhancement — Act makes it easier for many people to save for retirement. This article provides an overview of some of the provisions that could affect individuals’ retirement planning in beneficial ways, such as pushing back the age at which individuals must begin taking required minimum distributions (RMDs) from their retirement plans and mandating employers to allow part-time employees to enroll in their 401(k) plans, with certain restrictions. A sidebar explains provisions of the act that focus on educational savings accounts and student loans.